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Ukraine's auto production drops 27.5 pct

12 May 2016 04:08 (UTC +04:00)

Baku-APA. Vehicle production in Ukraine plunged 27.5 percent year-on-year to 1,076 units in the first four months of 2016, the Ukravtoprom Analysis Group said Wednesday in a report, APA reports quoting Xinhua.

The sharp decline in the industry was caused by a 16.1-percent drop in passenger car production, which accounts for more than two-thirds of the total vehicle output, the report said.

In the January-April period, a total of 815 passenger cars were produced in Ukraine compared with 971 vehicles manufactured in the same period a year ago.

At the same time, commercial vehicle production stood at 250 units, down 37.5 percent from a year earlier, while the output of buses plunged 90.7 percent to 11 units.

The automotive industry has been one of the hardest-hit sectors of the Ukrainian economy in the current turmoil that started in early 2014, with vehicle output declining six-fold in the past two years amid the slowing demand.

While in 2013 more than 50,000 vehicles were produced in Ukraine, in 2015 the overall automotive production stood at 8,244 units. The industry is projected to further decline this year.